Cambridge OCR GCSE (9-1) · Economics - J205

Production: Practice Questions

5 multiple-choice questions marked as you go, and 1 written questions with worked solutions. All on Production.

6 questions10 marksFree, no account

Question 1

1 mark

A firm produces \(500\) units of a product. Its total costs are \(£12,500\). If the firm sells each unit for \(£30\), what is its average cost per unit?

Question 2

1 mark

Which of the following best describes the concept of productivity?

Question 3

1 mark

A large firm benefits from economies of scale. Which of the following best explains why its average cost might fall as its scale of production increases?

Question 4

1 mark

What is meant by the term productivity in the context of production?

Question 5

1 mark

A firm experiences economies of scale when its long-run average costs fall as output increases. Which of the following is an example of a financial economy of scale?

Question 6

5 marks

Explain why a large firm might experience economies of scale as it increases its scale of production.

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